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Income Tax Slab & Rate for FY 2019-20, 18-19 & 17-18No tax for individuals with income less than ₹ 2,50,0000%-5% tax with income ₹ 2.5 lacs to 5 lacs for different age groups20% tax with income ₹ 5 lacs to 10 lacsInvestments upto ₹ 1.5 lacs under Sec 80C can save ₹ 46,800 in taxes.Invest in Best Tax Saving Mutual FundsSave up to Rs 46,800 in taxesHighest returns among other 80C optionsGet Instant Investment ProofIncome Tax Slabs Rates for FY 2019-20 (AY 2020-21) Individuals & HUF(Age <60 years) Senior Citizens(Age: 60-80 yrs) Super Senior Citizens(Age > 80 yrs) DomesticCompaniesIncome Tax Slabs Rates for Previous Years Income Tax Slabs Rates for FY 2018-19 Income Tax Slabs Rates for FY 2017-18 Income Tax Slabs Rates for FY 2016-17 Income Tax Slabs Rates for FY 2015-16INTRODUCTION FOR SLABSIn India, income tax is levied on individual taxpayers on the basis of a slab system where different tax rates have been prescribed for different slabs and such tax rates keep increasing with an increase in the income slab.Such tax slabs tend to undergo a change during every budget.Further, since the budget 2018 has not announced any changes in income tax slabs this time, it remains the same as that of last year.There are three categories of individual taxpayers:1.Individuals (below the age of 60 years) which includes residents as well as non-residents2.Resident Senior citizens (60 years and above but below 80 years of age)3.Resident Super senior citizens (above 80 years of age)Income Tax Slabs for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2019-20 – Part IIncome Tax SlabsTax RateHealth and Education CessUp to ₹2,50,000* Nil Nil₹2,50,001 to ₹5,00,000 5% of total income exceeding ₹2,50,000 4%₹5,00,001 to ₹10,00,000 ₹12,500 + 20% of total income exceeding ₹5,00,000 4%Above ₹10,00,000 ₹1,12,500 + 30% of total income exceeding ₹10,00,000 4%Invest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2019-20 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2019-20 – Part IIIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 3,00,000* No tax Income from Rs 3,00,000 – Rs 5,00,000 5% 4% of Income TaxIncome from Rs 5,00,000 – 10,00,000 20% 4% of Income TaxIncome more than Rs 10,00,000 30% 4% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2019-20 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)Income Tax Slabs for Super Senior Citizens(80 Years Old Or More) for FY 2019-20 – Part IIIIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 5,00,000* No tax Income from Rs 5,00,000 – 10,00,000 20% 4% of Income TaxIncome more than Rs 10,00,000 30% 4% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2019-20 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)Income Tax Slabs for Domestic Companies for FY 2019-20 – Part IVTurnover Particulars Tax RateGross turnover upto 250 Cr. in the previous year 25%Gross turnover exceeding 250 Cr. in the previous year 30%In addition cess and surcharge is levied as follows: Cess: 4% of corporate taxSurcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%Taxable income is more than 10Cr. :12%Income Tax Slabs Rates for FY 2018-19(AY 19-20)Income Tax Slabs for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2018-19 – Part IIncome Tax SlabsTax RateHealth and Education CessUp to ₹2,50,000* Nil Nil₹2,50,001 to ₹5,00,000 5% of total income exceeding ₹2,50,000 4%₹5,00,001 to ₹10,00,000 ₹12,500 + 20% of total income exceeding ₹5,00,000 4%Above ₹10,00,000 ₹1,12,500 + 30% of total income exceeding ₹10,00,000 4%Invest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2018-19 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2018-19 – Part IIIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 3,00,000* No tax Income from Rs 3,00,000 – Rs 5,00,000 5% 4% of Income TaxIncome from Rs 5,00,000 – 10,00,000 20% 4% of Income TaxIncome more than Rs 10,00,000 30% 4% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2018-19 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)Income Tax Slabs for Super Senior Citizens(80 Years Old Or More) for FY 2018-19 – Part IIIIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 5,00,000* No tax Income from Rs 5,00,000 – 10,00,000 20% 4% of Income TaxIncome more than Rs 10,00,000 30% 4% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2018-19 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)Income Tax Slabs for Domestic Companies for FY 2018-19 – Part IVTurnover Particulars Tax RateGross turnover upto 250 Cr. in the previous year 25%Gross turnover exceeding 250 Cr. in the previous year 30%In addition cess and surcharge is levied as follows: Cess: 4% of corporate taxSurcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%Taxable income is more than 10Cr. :12%Income Tax Slabs Rates for FY 2017-18(AY 2018-19)Income Tax Slabs for Individual Tax Payers & HUF (Less Than 60 Years Old) for FY 2017-18 – Part IIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 2,50,000* No tax Income from Rs 2,50,000 – Rs 5,00,000 5% 3% of Income TaxIncome from Rs 5,00,000 – 10,00,000 20% 3% of Income TaxIncome more than Rs 10,00,000 30% 3% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2017-18 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2017-18 – Part IIIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 3,00,000* No tax Income from Rs 3,00,000 – Rs 5,00,000 5% 3% of Income TaxIncome from Rs 5,00,000 – 10,00,000 20% 3% of Income TaxIncome more than Rs 10,00,000 30% 3% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2017-18 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)Income Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2017-18 – Part IIIIncome Tax Slabs Tax Rate Health and Education CessIncome up to Rs 5,00,000* No tax Income from Rs 5,00,000 – 10,00,000 20% 3% of Income TaxIncome more than Rs 10,00,000 30% 3% of Income TaxInvest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 10% of income tax, where total income exceeds Rs.50 lakh up to Rs.1 crore.Surcharge: 15% of income tax, where the total income exceeds Rs.1 crore.*Income tax exemption limit for FY 2017-18 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)Income Tax Slabs for Domestic Companies for FY 2017-18 – Part IVTurnover Particulars Tax RateGross turnover upto 50 Cr. in the previous year 2015-16 25%Gross turnover exceeding 50 Cr. in the previous year 2015-16 30%In addition cess and surcharge is levied as follows: Cess: 3% of corporate taxSurcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%Taxable income is more than 10Cr. :12%Income Tax Slabs Rates for FY 2016-17(AY 2017-18)Income Tax Slabs for Individual Tax Payers & HUF (Less than 60 Years Old) for FY 2016-17 – Part IIncome Tax Slabs Tax Rate e-Filing Tax ReturnsIncome up to Rs 2,50,000* No tax 31st March 2018 is the last date to file tax returns.Don’t miss it! File Now in 7 minsIncome from Rs 2,50,000 – Rs 5,00,000 10%Income from Rs 5,00,000 – 10,00,000 20%Income more than Rs 10,00,000 30%Invest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 15% of income tax, where total income exceeds Rs.1 crore.Higher education and secondary cess: 3% of Income Tax.*Income tax exemption limit for FY 2016-17 is up to Rs. 2,50,000 other than those covered in Part(I) or (II)Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2016-17 – Part IIIncome Tax Slabs Tax Rate e-Filing Tax ReturnsIncome up to Rs 3,00,000* No tax 31st March 2018 is the last date to file tax returns.Don’t miss it! File Now in 7 minsIncome from Rs 3,00,000 – Rs 5,00,000 10%Income from Rs 5,00,000 – 10,00,000 20%Income more than Rs 10,00,000 30%Invest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 15% of income tax, where total income exceeds Rs.1 crore.Higher education and secondary cess: 3% of Income Tax.*Income tax exemption limit for FY 2016-17 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)Income Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2016-17 – Part IIIIncome Tax Slabs Tax Rate e-Filing Tax ReturnsIncome up to Rs 5,00,000* No tax 31st March 2018 is the last date to file tax returns.Don’t miss it! File Now in 7 minsIncome from Rs 5,00,000 – 10,00,000 20%Income more than Rs 10,00,000 30%Invest Now & Save Upto ₹ 46,800 on TaxesSurcharge: 15% of income tax, where the total income exceeds Rs.1 crore.Higher education and secondary cess: 3% of Income Tax.*Income tax exemption limit for FY 2016-17 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)Income Tax Slabs for Domestic Companies for FY 2016-17 – Part IVTurnover Particulars Tax RateGross turnover upto 5 Cr. in the previous year 2014-15 29%Gross turnover exceeding 5 Cr. in the previous year 2014-15 30%In addition cess and surcharge is levied as follows: Cess: 3% of corporate tax Surcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7% Taxable income is more than 10Cr. :12%How to Calculate Income Tax from Income Tax Slabs?Rohit has a total taxable income of Rs 8,00,000. This income has been calculated by including income from all sources such as salary, rental income, and interest income. Deductions under section 80 have also been reduced. Rohit wants to know his tax dues for FY 2017-18 (AY 2018-19).Income Slabs Tax Rate Tax Calculation*Income up to Rs 2,50,000 No tax Income from Rs 2,50,000 – Rs 5,00,000 5% (Rs 5,00,000 – Rs 2,50,000) Rs 12,500Income from Rs 5,00,000 – 10,00,000 20% (Rs 8,00,000 – Rs 5,00,000) Rs 60,000Income more than Rs 10,00,000 30% nilTax Rs 72,500Cess 4% of Rs 72,500 Rs 2,900Total tax in FY 2017-18 (AY 2018-19) Rs 75,400*Please note that Rohit is an individual assesse having an income tax exemption of Rs 2,50,000. For other assesse as mentioned in table Part II & III, the Income tax limit for availing the exemption would be Rs 3,00,000 & Rs 5,00,000 respectively.Income Tax Slabs Rates for FY 2015-16 (AY 2016-17)Income Tax Slabs for Individual Tax Payers & HUF (Less than 60 Years Old) for FY 2015-16 – Part IIncome Tax Slabs Tax Rate e-Filing Tax ReturnsIncome up to Rs 2,50,000* No tax 31st March 2018 is the last date to file tax returns.Don’t miss it! File Now in 7 minsIncome from Rs 2,50,000 – Rs 5,00,000 10%Income from Rs 5,00,000 – 10,00,000 20%Income more than Rs 10,00,000 30%Surcharge: 12% of income tax, where the total income exceeds Rs.1 crore.Higher education and secondary cess: 3% of Income Tax.*Income tax exemption limit for FY 2015-16 is up to Rs. 2,50,000 for individual & HUF other than those covered in Part(II) or (III)Income Tax Slabs for Senior Citizens (60 Years Old Or More but Less than 80 Years Old) for FY 2015-16 – Part IIIncome Tax Slabs Tax Rate e-Filing Tax ReturnsIncome up to Rs 3,00,000* No tax 31st March 2018 is the last date to file tax returns.Don’t miss it! File Now in 7 minsIncome from Rs 3,00,000 – Rs 5,00,000 10%Income from Rs 5,00,000 – 10,00,000 20%Income more than Rs 10,00,000 30%Surcharge: 12% of income tax, where total income exceeds Rs.1 crore.Higher education and secondary cess: 3% of Income Tax.*Income tax exemption limit for FY 2015-16 is up to Rs. 3,00,000 other than those covered in Part(I) or (III)Income Tax Slabs for Senior Citizens(80 Years Old Or More) for FY 2015-16 – Part IIIIncome Tax Slabs Tax Rate e-Filing Tax ReturnsIncome up to Rs 5,00,000* No tax 31st March 2018 is the last date to file tax returns.Don’t miss it! File Now in 7 minsIncome from Rs 5,00,000 – 10,00,000 20%Income more than Rs 10,00,000 30%Surcharge: 12% of income tax, where the total income exceeds Rs.1 crore.Higher education and secondary cess: 3% of Income Tax.*Income tax exemption limit for FY 2015-16 is up to Rs. 5,00,000 other than those covered in Part(I) or (II)Income Tax Slabs for Domestic Companies for FY 2015-16 – Part IVDomestic companies are taxable are at 30%.In addition cess and surcharge is levied as follows:Cess: 3% of corporate taxSurcharge: Taxable income is more than 1Cr. but less than 10Cr.: 7%Taxable income is more than 10Cr. :12%